We need Prime Minister's commitment to resolve PMC crisis: Kapil Sibal

Senior Congress leader Kapil Sibal on Saturday demanded Prime Minister Narendra Modi's intervention to resolve the on-going Punjab and Maharashtra Co-operative (PMC) Bank crisis.

By Sahil Pandey Senior Congress leader Kapil Sibal on Saturday demanded Prime Minister Narendra Modi's intervention to resolve the on-going Punjab and Maharashtra Co-operative (PMC) Bank crisis.

"We need a Prime Minister's commitment to resolving the PMC crisis. There are 12 BJP directors on that bank and why has the CBI not arrested them. ED has not taken action against them because they belong to the BJP," Sibal told ANI here. Sibal also remarked that instead of thinking about Article 370, Prime Minister should focus on people's lives.

"Instead of worrying about (Article) 370, he should care about people's life and I need a Prime Minister's commitment from the Prime Minister so that there must be some assurance to those who are members of the cooperative banks," he added. Sibal also took pot shot at Prime Minister Modi saying, "Modi always used to say there is no scam when he is the Prime Minister so, is he is going to deal with this issue or not. Or is he still worried about (Article) 370."

Last month, the RBI restricted the activities of the PMC Bank for six months and asked it to not grant or renew any loans and advances, make any investment or incur any liability, including borrowing of funds and acceptance of fresh deposits. The Enforcement Directorate (ED) has seized and identified movable and immovable assets worth more than Rs 3,830 crore owned by Housing Development and Infrastructure Limited (HDIL) in connection with the case. As many as two PMC Bank customers died within 24 hours, including one Fattomal Punjabi and a 51-year-old former employee of Jet Airways named Sanjay Gulati.

Their families have alleged that they were "under stress" over the crisis in PMC Bank. (ANI)

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